German firm Engel & Völkers Investment Consulting (EVIC) said on Monday that it is expanding its business operations with the launch of a distressed debt/real estate opportunity fund platform.
German firm Engel & Völkers Investment Consulting (EVIC) said on Monday that it is expanding its business operations with the launch of a distressed debt/real estate opportunity fund platform.
The company has hired Thorsten Brogt as executive director of business development for the new business, which responds to growing investor demand for this type of funds.
The new business division will see Brogt offer support to buyers and sellers of distressed loan portfolios within an underwriting and transactions advisory framework. On top of that, Brogt will take charge of the structuring of portfolio and individual sales across the Engel & Völkers network in Germany with some 50 commercial offices and 300 locations.
Thorsten Brogt has more than 18 years’ experience in private equity and real estate funds. He joins Engel & Völkers from Hudson Advisors Germany, where he was director of portfolio management for Germany, Spain, and the Netherlands. Prior to that, Brogt worked across several positions at Commerzbank, including authorised representative and investment manager at the Commerz Beteiligungsgesellschaft.
'The market for distressed property loans in Germany is yet to be exhausted,' said Kai Wolfram, managing partner of Engel & Völkers Investment Consulting. 'We expect €6 bn in transactions across Germany in the current year.'
